West Bromwich market rent cut is 'one off'
Market traders across Sandwell have been warned a rent reduction for stallholders in West Bromwich is likely to be a one-off.
The future of West Bromwich's indoor market has been secured after council bosses agreed to cut rent by 25 per cent.
But they insisted they were keen to ensure the decision did not set a precedent and encourage approaches by other traders.
The rent reduction will be temporary for six months while council bosses work on plans to make the market more profitable for traders.
The plans were drawn several months ago but council bosses finally gave the green light at the latest Sandwell Council cabinet meeting.
Concerns have been raised that the deal could 'set a precedent' for other markets to approach the council for a reduction in rent prices.
Councillor Pete Hughes said: "Some markets are suffering. My main concern in relation to the decision is that it could cause a precedent for other markets which would like a reduction from time to time, like Wednesbury. The market on some days is not flourishing."
Sandwell Council's leader, councillor Steve Eling, said: "The West Bromwich market is a short term measure that is just there whilst a new business plan is developed. This is a one off deal."
He added: "Quite a number of indoor stalls market traders are saying trading circumstances are difficult in West Bromwich.
"The landlords are tempting people out of indoor market pitches by reducing rent on high street shops.
"We can understand why the market has done this but this has an affect on the indoor market.
"There is evidence indoor markets are failing nationally. A number have closed. The indoor market at Windmill Lane in Cape Hill is closing."
The move was welcomed by traders. Ken Bedford, who runs his stall KB Blinds in the market, said: "I welcome the move, I am glad to see the rents will be reduced."
But he called on Sandwell Council to invest more money into the market and keep the rent prices reduced for a longer period.
"Traders have to feel they are getting value for there money," he added.
Councillor David Hosell, cabinet member for highways and environment, said: “The indoor market is an asset to the town and we want that to continue, however it is old-fashioned and needs investment. We have listened to traders’ concerns and this rent reduction is a way of giving them some help while we draw up investment plans to ensure the market’s future.”
